TickMill review
Introduction of the broker TickMill
Tickmill, established in 2014, is headquartered in Seychelles and the UK. This broker is regulated by authorities FCA, CySEC, FSA SC, and FSCA, providing a high level of trust and security for investors. Tickmill offers trade execution through STP and DMA with very low spreads starting from 0 pips and leverage up to 1:30. The EUR/USD spread starts from 0.3 pips. The minimum deposit is 25 USD.
Available Accounts
Tickmill offers three main types of accounts. The Classic account operates solely with spreads, a straightforward option for many traders. For high-volume traders, a VIP account is available, offering tailored conditions defined based on a specific agreement with the broker.
In addition to these main account types, Tickmill also offers a free demo account, ideal for beginners to practice and develop trading strategies without financial risk. An Islamic or swap-free account, which adheres to Sharia law, is also available. This type of account maintains the same trading conditions but does not include swaps or overnight rollover interest, in line with Islamic financial principles.
Tickmill excels with its quick account opening process and low minimum deposit. Traders have access to a wide range of financial instruments, including forex pairs, commodities, indices, and more. Accounts can be held in USD, GBP, or EUR, providing flexibility for traders. However, the availability and specifics of account types and offerings can vary depending on the trader's jurisdiction, which may be a disadvantage for some traders.
Deposit Methods and Available Instruments
Tickmill supports various deposit and withdrawal methods, including Skrill, WebMoney, Giropay, Ukash, bank transfer, credit/debit cards, and Neteller. Available trading instruments include CFDs, oil, futures, major and minor currency pairs, gold and silver, 62 Forex currency pairs, cryptocurrencies, bonds, and stock indices. The broker provides MetaTrader 4, MT4 for mobile, MT5 WebTrader, and a mobile app but does not support social trading.
Additional Features
Accounts can be held in USD, EUR, or GBP, and additional features include a free virtual private server (VPS) from a deposit of 200 USD, scalping, hedging, EA support, segregated bank accounts, and a free demo account. Major advantages of Tickmill include being an NDD and STP broker, low minimum deposit, low spreads, fast execution, deposit bonus, and the possibility of negotiating a personal bonus. Tickmill also offers a professional education center with seminars, webinars, video tutorials, and other materials.
On the downside, Tickmill being an offshore broker may be an issue for some investors. There can also be slippage in trade execution, and the broker only offers MetaTrader 4 and MT5 platforms. Additionally, it does not provide access to any social trading methods. Customer support is available only 24/5.
Risk warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Basic information | |
|---|---|
| Regulations |
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| Number of CFD asset classes | 5 |
| Broker type | STP |
| Customer support |
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| Deposit from | 100 EUR/USD |
| Spreads | 0.5 EUR/USD *The value is indicative from the broker's website. The spread amount is variable. |
| Real Stocks and ETFs | |
| Platforms |
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| Instruments CFD | Commodities, Share CFDs, Forex, ETF, Indicies |
| Established | 2014 |
| Location | Kedron 9, Mesa Geitonia 4004, Cyprus |
| Phone | +357 25041710 |
| Country | Cyprus |
| Last update: | |
Pros
Regulation: Tickmill is a fully regulated broker with licenses from several reputable authorities such as FCA, CySEC, and FSA, providing a high level of safety and trustworthiness for investors.
Low Spreads: It offers competitive spreads, for example, the EUR/USD pair starting from 0.3 pips, which is attractive for traders looking for low trading costs.
Wide Range of Instruments: Tickmill provides over 180 trading instruments including Forex, stocks, indices, metals, cryptocurrencies, and more, allowing for portfolio diversification.
Minimum Deposit: A low minimum deposit of $100 allows access to trading for small investors.
Educational Materials: Tickmill offers quality educational materials such as webinars, seminars, and video tutorials, which are beneficial for both beginners and advanced traders.
Cons
Variable Conditions Based on Regulation: Trading conditions can vary depending on the jurisdiction and regulation, which can be confusing for some traders.
Limited Customer Support: Tickmill does not provide 24/7 customer support, which can be a disadvantage for traders needing assistance outside standard working hours.
No Proprietary Platform: Tickmill does not offer its own trading platform, which may be a drawback for traders who prefer unique solutions over standard platforms like MT4 and MT5.
Higher Spreads for Some Instruments: Although Forex spreads are low, for some other instruments they can be higher than the competition.
No Extended Weekend Trading Services: Some trading tools and services are not available on weekends, which can limit trading opportunities for some investors.
Licences and regulation
Tickmill is a globally recognized brokerage firm that operates under multiple regulatory authorities, ensuring a high standard of compliance and security for its clients. Below is a list of the various licenses and registrations that Tickmill holds across different regions:
- Tickmill Ltd - FSA (Seychelles) registration no. SD008
- Tickmill Ltd - FCA (UK) registration no. 717270
- Tickmill Europe Ltd (ex Vipro Markets Ltd) - CySEC (Cyprus) registration no. 278/15
- Tickmill Asia Ltd - Labuan FSA registration no. MB/18/0028
- Tickmill (Pty) Ltd - FSCA (SA), registration no. FSP 49464
